Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of energy industry supplier Tesco Corporation (NASDAQ:TESO) fell 10% today after reporting earnings.

So what: Revenue fell slightly from a year ago, to $136.9 million, beating estimates of $132.5 from analysts. Earnings of $0.22 per share were $0.07 below estimates, and were the result of lower drilling activity in the U.S. 

Now what: The international market continues to be strong, but low natural gas prices in the U.S. kept drillers from keeping rigs active last year. Activity should pick up as the price of natural gas rises, but that hasn't helped shares today. I think the weakness will be short term in nature, and investors willing to ride out the domestic drilling lull will be rewarded long term.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.